Fab-Line Machinery in Nashville supplies metalworking equipment (e.g., press brakes and shears) to American manufacturers. With average machine costs of nearly $150,000, GSP eliminates about $7,500 per machine imported by Fab-Line from Turkey. When GSP expired in 2013, Fab-Line was forced to raise prices to compensate for those new import taxes. Ul...
Continue readingIn January 2017, the GSP program saved American companies $59 million on about $1.5 billion in imports. GSP imports were up by 5 percent – and tariffs savings up by 8 percent – compared to January 2016. In terms of GSP savings, it was the best start to a year since 2013. Some states, such...
Continue readingIn December 2016, the GSP program saved American companies $62 million on about $1.6 billion in imports. GSP imports were up by 11 percent – and tariffs savings up by 14 percent – compared to December 2015. Overall, GSP saved U.S. companies $729 million in 2016, an increase of over 10 percent from 2015. Some...
Continue reading